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Marketable Securities
 6 Months Ended
Jul. 31, 2020
Investments Debt And Equity Securities [Abstract]  
Marketable Securities

4. Marketable Securities

During all periods shown, marketable securities are classified as available-for-sale. The amortized cost, gross unrealized gains (losses) and fair value of available-for-sale securities by major security type and class of security as of July 31, 2020, January 31, 2020 and July 31, 2019 were as follows:

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of July 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

291

 

 

$

—

 

 

$

—

 

 

$

291

 

Municipal and pre-refunded municipal bonds

 

 

210

 

 

 

—

 

 

 

—

 

 

 

210

 

 

 

 

501

 

 

 

—

 

 

 

—

 

 

 

501

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds, held in rabbi trust

 

 

8,767

 

 

 

365

 

 

 

—

 

 

 

9,132

 

Corporate bonds

 

 

30

 

 

 

—

 

 

 

—

 

 

 

30

 

Municipal and pre-refunded municipal bonds

 

 

53

 

 

 

1

 

 

 

—

 

 

 

54

 

 

 

 

8,850

 

 

 

366

 

 

 

—

 

 

 

9,216

 

 

 

$

9,351

 

 

$

366

 

 

$

—

 

 

$

9,717

 

As of January 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

166,790

 

 

$

318

 

 

$

(26

)

 

$

167,082

 

Municipal and pre-refunded municipal bonds

 

 

38,617

 

 

 

20

 

 

 

(11

)

 

 

38,626

 

Certificates of deposit

 

 

2,593

 

 

 

—

 

 

 

—

 

 

 

2,593

 

Federal government agencies

 

 

1,152

 

 

 

3

 

 

 

—

 

 

 

1,155

 

Commercial paper

 

 

1,997

 

 

 

—

 

 

 

—

 

 

 

1,997

 

 

 

 

211,149

 

 

 

341

 

 

 

(37

)

 

 

211,453

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds, held in rabbi trust

 

 

8,448

 

 

 

36

 

 

 

(55

)

 

 

8,429

 

Corporate bonds

 

 

47,352

 

 

 

205

 

 

 

(40

)

 

 

47,517

 

Municipal and pre-refunded municipal bonds

 

 

30,340

 

 

 

35

 

 

 

(17

)

 

 

30,358

 

Certificates of deposit

 

 

3,867

 

 

 

—

 

 

 

—

 

 

 

3,867

 

Federal government agencies

 

 

6,926

 

 

 

1

 

 

 

(2

)

 

 

6,925

 

 

 

 

96,933

 

 

 

277

 

 

 

(114

)

 

 

97,096

 

 

 

$

308,082

 

 

$

618

 

 

$

(151

)

 

$

308,549

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of July 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

125,943

 

 

$

190

 

 

$

(31

)

 

$

126,102

 

Municipal and pre-refunded municipal bonds

 

 

42,023

 

 

 

40

 

 

 

(9

)

 

 

42,054

 

Certificates of deposit

 

 

1,745

 

 

 

—

 

 

 

—

 

 

 

1,745

 

Federal government agencies

 

 

1,495

 

 

 

2

 

 

 

—

 

 

 

1,497

 

 

 

 

171,206

 

 

 

232

 

 

 

(40

)

 

 

171,398

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds, held in rabbi trust

 

 

7,826

 

 

 

56

 

 

 

(7

)

 

 

7,875

 

Corporate bonds

 

 

49,385

 

 

 

174

 

 

 

(33

)

 

 

49,526

 

Municipal and pre-refunded municipal bonds

 

 

19,526

 

 

 

6

 

 

 

(50

)

 

 

19,482

 

Certificates of deposit

 

 

1,847

 

 

 

—

 

 

 

—

 

 

 

1,847

 

Federal government agencies

 

 

126

 

 

 

1

 

 

 

—

 

 

 

127

 

 

 

 

78,710

 

 

 

237

 

 

 

(90

)

 

 

78,857

 

 

 

$

249,916

 

 

$

469

 

 

$

(130

)

 

$

250,255

 

 

Proceeds from the sales and maturities of available-for-sale securities were $383,056 and $320,411 for the six months ended July 31, 2020 and 2019, respectively. Net liquidations of the Company’s marketable securities portfolio in the six months ended July 31, 2020 were primarily to preserve financial flexibility and maintain liquidity in response to the coronavirus pandemic. The Company included in “Other (loss) income, net,” in the Condensed Consolidated Statements of Operations, a net realized gain of $34 and a net realized loss of $420 for the three and six months ended July 31, 2020, respectively, and net realized gains of $19 and $26 for the three and six months ended July 31, 2019, respectively. Amortization of discounts and premiums, net, resulted in a reduction of “Other (loss) income, net” of $208 and $617 for the three and six months ended July 31, 2020, respectively, and $152 and $271 for the three and six months ended July 31, 2019, respectively. Mutual funds represent assets held in an irrevocable rabbi trust for the Company’s Non-qualified Deferred Compensation Plan (“NQDC”). These assets are a source of funds to match the funding obligations to participants in the NQDC but are subject to the Company’s general creditors. The Company elected the fair value option for financial assets for the mutual funds held in the rabbi trust resulting in all unrealized gains and losses being recorded in “Other (loss) income, net” in the Condensed Consolidated Statements of Operations.